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Emerging markets business cycle models treat default risk as part of an exogenous interest rate on working capital, while sovereign default models treat income

An integrated approach to the economics of sovereign default Fiscal crises and sovereign default repeatedly threaten the stability and growth of economies aroun

This paper studies how international investors' concerns about model misspecification affect sovereign bond spreads. We develop a general equilibrium model of s

How do oil price movements affect sovereign spreads in an oil-dependent economy? I develop a stochastic general equilibrium model of an economy exposed to co-mo